New chairman for Shell as CEO takes 42 per cent pay cut March 11, 2021 British-Dutch energy giant Shell has today announced the appointment of Andrew Mackenzie as its new chairman. Mackenzie joined Shell’s board in October 2020 after a career in the energy sector, most recently as group CEO of BHP. He also had a three-year stint at Rio Tinto, after a 22-year career at BP. The appointment came [...]
Shell mulls former BHP chief as new chairman October 25, 2020 Former BHP Billiton boss Sir Andrew Mackenzie is in pole position to become the next chairman of Shell, reports emerged today. Mackenzie joined the Shell board this month as a non-executive director but is expected to move into the chair soon to be vacated by Charles Holliday. The Sunday Telegraph first reported the news. The [...]
Shell takes $2bn hit amid slowing demand for oil December 20, 2019 Oil giant Royal Dutch Shell has said it expects impairment charges of up to $2.3bn (£1.8bn) in the fourth quarter and has trimmed its output estimates due to a weaker economic outlook. In a trading update issues ahead of its full year results in January, Shell said it expected “materially lower” margins in its refining, [...]
What is powering ISA millionaire portfolios? April 3, 2019 | City Talk By Jemma Jackson from interactive investor. For our ISA millionaires, investment trusts and a little luck are key to a seven-figure portfolio. Whilst there is always a huge focus on the most popular ISA season funds, data from interactive investor suggests that when it comes to the largest portfolios, it is investment trusts that are [...]
Shelling out: Oil major doubles chief executive Ben van Beurden’s pay March 14, 2019 Shell’s chief executive doubled his salary last year as he combed home €15m (£13m) in performance-related pay. Ben van Beurden grew his remuneration to €20m in 2018, up from around €10m the year before, the company announced today. Read more: Shell posts highest earnings in four years as cost cutting pays off “The remuneration committee is [...]
The great oil reset: Shell to axe 6,500 jobs as black gold price set to stay low July 31, 2015 Oil giant Shell revealed yesterday that it will axe 6,500 jobs this year, as new figures highlight the extent of cost-cutting throughout the industry. Shell slashed capital expenditure to around $30bn (£20bn) for 2015, a reduction of $3bn since the group’s last update in April. With extremely low oil prices taking their [...]
Royal Dutch Shell share price soars as it confirms 6,500 job cuts while £47bn takeover of BG Group “progresses well” July 30, 2015 Royal Dutch Shell's share price climbed this morning after confirming it is cutting 6,500 jobs while revealing a 35 per cent drop in profits for the three months to 30 June. The figures The oil giant is struggling amid falling prices and heightened competition. Profits were down more than a third to $3.4bn for [...]
Shell’s plan to drill in the Arctic is approved by US Department of Interior May 11, 2015 The Arctic is one of the most oil and gas-rich places on the planet, containing an estimated 20 per cent of the world's undiscovered reserves. It's no wonder, then, that Royal Dutch Shell has set its sights on drilling there, and it has just received “conditional” approval from the US Department of Interior to do [...]
BG Group pre-tax profit plunges 62 per cent on plummeting oil prices May 8, 2015 The figures BG Group said pre-tax profit plunged 62 per cent to $715m (£463m) in the first quarter, down from $1.9bn during the first quarter a year earlier. Total earnings were $233m, including a post-tax loss of $332m on disposals, re-measurements and impairments in the first quarter of 2015. This was down from $1.1bn and included a post-tax loss [...]
Shell profit beats expectations as asset sales top $2bn April 30, 2015 The figures Royal Dutch Shell beat first quarter profit expectations, even as earnings on a current cost supplies (CCS) basis excluding identified items plummetted by well over 50 per cent. CCS earnings, the oil industry's preferred measure, fell by 56 per cent to $3.2bn from $7.3bn at the same stage last year as global crude prices [...]